Bucking criticism about their financial performance, state retirement systems' assets grew in 2010, with investment earnings rising for the first time since 2007, the U.S. Census reported on Thursday. The pension funds' cash and investments totaled $2.2 trillion in 2010, up 10.7 percent, or $213.9 billion, from 2009, when their cash and investment holdings fell by $610.8 billion. … The Census found that total pension obligations were $3.2 trillion in 2010, compared with $3.1 trillion in 2009. Benefit payments in 2010 alone rose 6.2 percent to $63.5 billion. ….. In five states, including Wisconsin, where fights over public employee compensation have led to campaigns to recall elected officials and weeks-long demonstrations, they put in half or more of the contributions. The other four states were North Carolina, Pennsylvania, South Dakota and Wyoming.
State pension assets, earnings grew in 2010 Reuters
Friday, January 27, 2012
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